JPMorgan Approves crypto investments
JPMorgan Chase & Co. told its financial advisors that they can give all their wealth-management clients access to cryptocurrency funds, as the bank increases its push into the crypto market.
According to a report published by the Business Insider on Thursday, the development will apply to all clients, ranging from those that are self-directed to those that are serviced by the private bank itself. With this, JPMorgan became the first major bank in the United States to allow buying and selling cryptocurrency products.
JPMorgan gave the go-ahead to use five cryptocurrency products, which include Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic vehicles, as well as Osprey Funds’ Bitcoin Trust.
Amazon to accept crypto payments
Amazon.com, Inc. intends to accept payments in cryptocurrencies at a certain point, the Business Insider wrote on Friday citing information it received from the company.
The outlet wrote to Amazon after the retail giant said in June that it was looking for a “digital currency and blockchain product lead” in a job advertisement.
“We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible,” the outlet cited the spokesperson.